ALAT by Wema Launches Quick Loans and Virtual Dollar Card

Wednesday, March 07, 2018/3:02PM/Wema BankALAT,
Nigeria's only fully digital bank, has released two exciting new features:
quick short-term loans and a virtual dollar card for paying online internationally.ALAT
Loans are accessible to all ALAT customers through the bank's Android and iOS
apps.The
ALAT Virtual Dollar Card is a non-physical, dollar-denominated debit card
designed for online payments. Like ALAT Loans, the card is available to all the
bank's customers through its apps.In
addition, customers of the bank can now connect other Nigerian bank accounts to
their ALAT profile on the app. This makes moving money around a lot easier for
people who use multiple bank accounts.The
feature is one of several ways ALAT users can fund their account. Other ways
are through local and international bank cards, and by transfer.Speaking
on the launch of the new features, the bank's Chief Digital Officer, Mr. Dele
Adeyinka expressed his team's passion to make banking even easier for everyday
people. "A bank should do more than just keep money safe. That's the bare
minimum. The way we see things at ALAT, that bare minimum is no longer
acceptable. We believe that these new features will further show the world that
banking can and should be relevant to people's lifestyles," he said.ALAT,
has been well-received since its launch in May 2017, with over 200,000 accounts
opened and over 1.1 billion naira in deposits as at February 2018.ALAT
is a branchless, paperless bank which provides financial services through its
Android, iOS and web applications. It was designed in response to the growing
needs of Nigerians for a financial institution that understands their needs,
responds quickly to them and helps them save money.ALAT
is powered by Wema Bank, the first and longest-serving truly indigenous
Nigerian bank.The
future of banking is digital, and Wema Bank is backing this belief by ditching
the corporate dogma and taking proactive steps towards bringing tomorrow’s
banking to the today’s customers.Beyond
ALAT, the bank continues to champion innovation and leverage technology in
breaking barriers plaguing conventional banking. It pioneered the use of card
control in Nigeria, an in-app tool that allows customers lock their payment
cards from a mobile device. It also formed part of the pilot banks to successfully
deploy M-cash, a mobile service that allows merchants receive payments by
dialing a simply code. The Bank continues to improve on its *945# USSD Banking
service and enhance its online and mobile banking apps to ensure it offers a
seamless service across all its banking channels.